Ukraine Set to Offer Blockchain Real Estate to Foreign Investors

The Ukrainian government is launching a pilot scheme to tell property to foreign investors on the Blockchain.

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Ukraine is set to use decentralized real estate marketplace Propy to offer properties to foreign investors on the Blockchain.

A pilot scheme in conjunction with the country’s Agency for E-Governance will preclude what a government spokesman described as “fostering greater transparency, efficiencies, security and compliance.”

“Our ambition is for Ukraine to be one of the world’s foremost nations in establishing a comprehensive Blockchain ecosystem, and the real estate sector forms an important part of our overall Blockchain strategy," Agency head Oleksandr Ryzhenko continued in a press release issued today.

On the topic of the struggling economy, however, ministers clearly see the cost-saving benefits Blockchain offers.

“Ukraine’s recent commitment to build a Blockchain-based internal government database with Bitfury was a great first step,” Propy CEO Natalia Karayaneva said.

“[...] While this clearly benefits the Ukrainian real estate market, it also allows foreign investors to purchase enticing properties in a very low price range, all with the benefits and security that Propy provides.”